Equinix vs Prologis
Equinix and Prologis are similar in size: $9.22bn and $8.79bn of revenue in their latest fiscal years. Prologis grew faster (7.2% against 5.4%). Prologis kept more of each dollar of sales as profit: a net margin of 37.9% against 14.6%. Prologis carries less debt relative to equity (66.9% against 134.7%).
| Latest fiscal year | EquinixEQIX, 2025 | PrologisPLD, 2025 |
|---|---|---|
| Revenue | $9.22bn | $8.79bn |
| Revenue growth | 5.4% | 7.2% |
| Net income | $1.35bn | $3.33bn |
| Operating margin | 20.0% | 49.6% |
| Net margin | 14.6% | 37.9% |
| Return on equity | 9.8% | 6.2% |
| Free cash flow | −$400m | $5.01bn |
| Cash | $1.73bn | $1.15bn |
| Total debt | $19.06bn | $35.58bn |
| Debt to equity | 134.7% | 66.9% |
| Dividend per share | $18.76 | — |
| Dividend yield | 2.0% | 3.2% |
| Share buybacks | — | — |
| Employees | 13,716 | — |
| Market value | $100.25bn | $122.28bn |
| Price vs our value range | — | — |
| Moat score | 49 (Moderate) | 65 (Moderate) |
| Insider trades, 12 months | 0 buys, 383 sales | 0 buys, 5 sales |